Continued Government incentives to attract both real estate investment and tourism continue with the introduction of Law 158. This entitles investors in the country several to benefits such as:

• No Stamp Duty on property purchases, saving in excess of 4% of the property price
• No Tax on Rental Income
• No Capital Gains Tax

It is important to remember that this is only applicable to the first purchaser of the property and therefore it is recommended that property is bought by a privately owned company.
Given the area’s hugely successful tourist industry, high rental returns are far more achievable than many other more obscure international destinations currently billed as investment hotspots. Increasing numbers of tourists are demanding a higher standard of accommodation

This has been recognised by many international tour operators, most of whom are fighting to secure rental property for their pools. Given that the number of properties being developed in the area to date is relatively small and therefore up market properties to rent are few and far between, the competition is fierce to secure their long term rental. This is good news for property owners wanting consistently high returns from their investment.